• Poker, Trading and Making Adjustments

    In my Thursday report to members, I talk about the current market, making adjustments and poker: Before we begin, let me compare what’s going on now to poker. In Texas Hold’em, the best hand pre-flop is pocket Aces. Most players try to get as much money into the pot as…

  • On the Radar: Residentials

    Residential Real Estate and homebuilders is one of the hottest sectors right now, showing strong accumulation, price patterns and relative strength. One of my favorites is DHI. The chart speaks for itself . . .

  • Monday Short

    While I am still bullish on the market, I am looking to short on a very short term time frame.  The market is overbought and nearing resistance. I will only short strength that moves strong to the February highs.

  • A Momentum Stock in a Sea of Bottoming Setups

    NFLX is one of the few stocks that has been enfuego this year. It bottomed in December and has been on fire since. I like it on a pullback to the mid Bollinger Band level, which is also the 20 day moving average. This is a trend pullback setup.

  • Today’s Trades: X and FDX

    I used the morning pullback to enter X and FDX. I only took small “pilot positions” since there is still room for more pullback. I also unloaded my SDS position for a decent gain.

  • 10 Things I Think I Know

    1.  I am waiting for a pullback to enter long 2.  A bottom may be in, but pay attention to volume for clues of a pattern failure 3.  Tech is showing relative strength vs the market.  Could be a clue for the next leaders. 4.  NFLX bottomed in December and…

  • Monday’s Game Plan and Market Notes

    Here is my plan for the market this week. The member only “Trade Report” also included my focus list, consisting of the stocks I plan to trade if we get a pullback. Market Notes: As I noted last night, the cup and handle pattern emerging from a bottom formation looks…

  • Quick Trade Update

    As noted to Trade Report members this morning, I took a small position in SDS today at $77.46. My upside target is $84-85.

  • Trade Results for February and March 2009

    Back on February 17, I told my subscribers that I would do a better job of tracking my trades. Here are the results from February 17-March 16. All trades were noted in the Trade Report, and some were also mentinoed here. Note that I do not take commission into account…

  • Breakout Stock: CTRN

    During big down days, it pays to watch for stocks holding up well. CTRN, a recent breakout stocks, is doing just that.

  • On Probability, Trading and Current Market

    What do I mean by high probability?  In trading, I define a high probability setup as one that gives me a significant edge over an average trade.  For instance, in my back tests, when stochastics hit 90 (extremely overbought) in a bear market, coupled with a few specific trading setups,…

  • Another Bullish Signal

    With so many stocks showing bullish patterns, I spent the better part of three hours today just trying to narrow down my focus list.  This is another sign that this market has legs.  If not a reversal, we should bounce towards another resistance level in the coming days or weeks.

  • Game Plan for Friday

    Here is the game plan for Friday, taken from today’s Trade Report: (See this post for a free seven day trial and 30 minute private chat) Market Notes:   The market drifted up today on decent (but not great) volume, and is nearing the $85 resistance level.  Stochastics are very…

  • Free Trial of the Trade Report and Free Private Chat

    I am offering a one week free trial to the Trade Report for those that interested in subscribing, along with a *half hour private chat* with me. You will have to sign up to the report via paypal through the link below. If at the end of 7 days you…

  • SPY Chart

  • The Game Plan

    Today’s move was unexpected and has changed the character of the market and for the moment, it looks like the reversal is in. Take a look at my post right after the market close: http://themarketspeculator.blogspot.com/2009/03/definate-change-in-market-character.html It’s not time to add shorts, even with the big move. However, I’d like to…

  • Definite Change in Market Character

    Today marked a change in character for the market. SPY has now convincingly mounted the 50 day moving average, the volume pattern shows accumulation, RSI is steady above 50 and the price bar is of the “breakout” variety. I’ll be looking for a pullback to initiate longs.

  • Chart: ACOR

    ACOR is the only new addition to the focus list:

  • Correction in SRS Trade, Partial Profits in SDS

    I wrote the wrong entries for my SRS trade yesterday. The correct prices are 200 shares at $57 and 200 shares at $58.11. I am taking profits on 200 shares just now at $61.90 and am moving my stop on the remaining up to $57. I also took partial profits…

  • Trade Tracker

    Here are my current trades, as posted in the Trade Report: Trade Tracker: SDS: Still holding (400 shares at average price of $80.83, currently $83.31) USD: I took profits in the rest of the X position at $21 (entry at $17.25) for a $562 gain (total trade $862 gain). X:…

  • Last Night’s Trade Report

    Here is the Trade Report I sent to subscribers last night. In it is also a link to Monday’s report, which is probably more important. http://docs.google.com/Doc?id=d5z8q8w_828pc9n57gv